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Keyword: lightsquared

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  • Lightsquared accuses GPS of infringing their frequency grant

    09/19/2011 5:38:19 AM PDT · by AndyJackson · 8 replies
    Watch this Lightsquared video accusing commercial GPS manufacturers of infrining on their frequency allocations
  • LightSquared: The So-Called "Fix"

    10/24/2011 8:22:39 AM PDT · by the_daug · 13 replies
    GPS World ^ | October 20, 2011 | Eric Gakstatter
    Survey Scene, October 2011 LightSquared’s been in the news quite a bit since my last Survey Scene newsletter a month ago, but very little of it has actual consequence. A lot of the “news” is just noise. LightSquared pumped up its propaganda campaign nationwide to try to build a consensus in their favor and put pressure on the FCC, and is threatening a lawsuit if the FCC doesn’t do what LightSquared wants. No surprises there. However, other things have happened that I think you might be interested in hearing about.
  • Breaking: LightSquared founder, Obama ally Falcone sued by SEC for fraud

    06/27/2012 7:12:54 PM PDT · by opentalk · 14 replies
    US regulators sued hedge fund billionaire Philip Falcone for fraud Wednesday, accusing him of taking $113 million from a fund to pay his taxes. The Securities and Exchange Commission (SEC) said Falcone, who raked in billions betting against packaged mortgage securities ahead of the US real-estate crash, took clients' money from funds run by his Harbinger Capital Partners to pay his personal taxes.It also said Falcone illegally manipulated bond prices, traded preferential treatment to investors who backed a controversial board initiative, and broke restricted period trading rules in three initial public offerings to make money on short sales.
  • FCC considering ‘all options' to save bankrupt tech company LightSquared

    05/19/2012 11:25:16 AM PDT · by jazusamo · 20 replies
    The Hill ^ | May 19, 2012 | Brendan Sasso
    A top official at the Federal Communications Commission (FCC) told a Republican congressman that the agency is still considering ways to save LightSquared's plan for a high-speed wireless network. The company invested billions of dollars in plans for a nationwide 4G network, but the FCC moved to block the network earlier this year over concerns it would interfere with GPS devices. In a letter sent last month that was obtained by The Hill, Mindel De La Torre, the chief of the FCC's International Bureau, told Rep. John Duncan (R-Tenn.) the agency is "continuing to consider all options for addressing this...
  • LightSquared files for bankruptcy

    05/15/2012 7:36:22 AM PDT · by libstripper · 7 replies
    Politico ^ | May 14, 2012 | ELIZA KRIGMAN
    LightSquared filed for bankruptcy on Monday after failing to negotiate a last-minute deal with its lenders to avoid default. Under the Chapter 11 bankruptcy protection, LightSquared has sought the company will have an opportunity to restructure itself. The move gives the company and its principal financier, hedge fund magnate Phil Falcone, some running room to devise a new path forward after regulatory setbacks.
  • BREAKING - LightSquared to file for bankruptcy (Another Obama Porkulus Crony!)

    05/14/2012 11:20:08 AM PDT · by tcrlaf · 29 replies
    CNN ^ | 5-14-12 | David Goodman
    Unable to reach a deal with its lenders, upstart wireless carrier LightSquared will file for bankruptcy Monday, according to two sources with knowledge of the company's plans. The move has been widely expected, since the company's options for appeasing its creditors were running out. LightSquare's lenders claim that it has been in default on its debt since its $9 billion partnership with Sprint Nextel
  • LightSquared: 'There's Too Much at Stake to Walk Away'

    03/19/2012 10:11:02 AM PDT · by bigbob · 12 replies
    Wireless Week ^ | 3-19-12 | Maisie Ramsay
    LightSquared made it clear on Friday that it's not going down without a fight. The FCC's decision to stop it from launching its wireless network violated its constitutional rights, it said, vowing to find a way to move forward. "I want to make one thing clear: We are not going away," LightSquared regulatory affairs executive Jeff Carlisle said during a call with reporters. "We know there's too much at stake here to just walk away." After LightSquared was unable to fix major problems with GPS interference, the FCC decided last month to void LightSquared's waiver for its wholesale terrestrial-satellite LTE...
  • LightSquared hires all-star lawyers in bid to save company

    03/13/2012 5:38:29 PM PDT · by jazusamo · 15 replies
    The Hill ^ | March 13, 2012 | Brendan Sasso
    Former Bush administration solicitor general Ted Olson and Eugene Scalia, Justice Scalia's son, will represent LightSquared. Wireless startup LightSquared has hired prominent conservative lawyers Ted Olson, a former U.S. solicitor general, and Eugene Scalia, a son of Supreme Court Justice Antonin Scalia, as it tries to save its multibillion-dollar plan to build a nationwide 4G wireless network, the company confirmed Tuesday. Although the Federal Communications Commission (FCC) granted LightSquared a conditional waiver to move forward last year, the commission is now moving to block the company's network over concerns that it would interfere with GPS devices. The hiring of two...
  • FCC fires back at Sen. Grassley over LightSquared (Sprint to abandon deal?)

    03/09/2012 2:48:00 AM PST · by Libloather · 7 replies
    The Hill ^ | 3/08/12 | Brendan Sasso
    FCC fires back at Sen. Grassley over LightSquaredBy Brendan Sasso - 03/08/12 03:40 PM ET The Federal Communications Commission (FCC) fired back at Sen. Chuck Grassley (R-Iowa) on Thursday after the Republican lawmaker accused the agency of stonewalling his probe over wireless startup LightSquared. On Wednesday, Grassley said the FCC was ignoring his repeated attempts to meet with senior staffers over the agency's decision to grant LightSquared a conditional waiver last year. "Commission staff have attempted to address these issues through multiple conversations with the senator’s staff, including as recently as last week," FCC spokeswoman Tammy Sun said in a...
  • LightSquared CEO made curious max donation to DNC while seeking White House audience

    02/24/2012 2:20:26 PM PST · by rdb3 · 6 replies
    Daily Caller ^ | 24 FEBRUARY 2012 | Matthew Boyle
    LightSquared CEO made curious max donation to DNC while seeking White House audience By Matthew Boyle - The Daily Caller   12:37 PM 02/24/2012 Broadband company LightSquared‘s CEO made a maximum-allowable political donation to the Democratic Party on the same day his lawyers were trying to arrange a meeting between him and top White House technology officials, records and emails obtained by The Daily Caller show. Those same records also show a questionable inconsistency, listing the CEO’s employer as a company he hadn’t worked for in a decade.The requests and donation came soon after President Barack Obama’s Federal Communications Commission...
  • LightSquared CEO made curious max donation to DNC while seeking White House audience

    02/24/2012 1:06:13 PM PST · by Nachum · 14 replies
    Daily Caller ^ | 2/24/12 | Matthew Boyle
    Broadband company LightSquared’s CEO made a maximum-allowable political donation to the Democratic Party on the same day his lawyers were trying to arrange a meeting between him and top White House technology officials, records and emails obtained by The Daily Caller show. Those same records also show a questionable inconsistency, listing the CEO’s employer as a company he hadn’t worked for in a decade.The requests and donation came soon after President Barack Obama’s Federal Communications Commission successfully propped up LightSquared, and subsequently demolished its competitor GlobalStar with regulatory muscle.
  • Documents: LightSquared shaping up as the FCC’s Solyndra

    02/21/2012 4:34:22 PM PST · by Nachum · 8 replies
    daily caller ^ | 2/21/12 | Matthew Boyle
    Documents and copies of communications obtained by The Daily Caller indicate that the Federal Communications Commission propped up broadband company LightSquared with favorable regulatory decisions and other special treatment, while driving its competition out of business. In August 2008, Wall Street hedge fund Harbinger Capital Partners, owned by longtime Democratic political donor Philip Falcone, sought to buy a majority stake in the satellite company SkyTerra — the company that would later become LightSquared. On June 27 of that year, just before Falcone’s Harbinger Capital sought FCC approval for that purchase, Falcone donated $28,500 to the Democratic Senatorial Campaign Committee. But...
  • Philip Falcone sued by investors over $3bn broadband bet (Lightsquared)

    02/18/2012 6:25:45 PM PST · by opentalk · 9 replies
    Telegraph UK ^ | February 18, 2012 | James Quinn and Richard Blackden
    Phil Falcone, the billionaire hedge fund manager whose firm made $11bn (Ł6.9bn) from the sub-prime crisis, is being sued by investors after a $3bn bet to create a US-wide mobile broadband service appeared to hit the buffer.Mr. Falcone, chief investment officer of Harbinger Capital Partners, stands accused of misleading investors over its decision to invest in the service through its acquisition of LightSquared. Court filings lodged in New York accuse him and one of the firm's investment funds of investing in LightSquared even though the original aim of the fund was to invest in distressed debt and sub-prime mortgages. ...The...
  • Report: LightSquared might swap airwaves with military

    02/18/2012 4:16:23 PM PST · by opentalk · 10 replies · 1+ views
    The Hill ^ | February 16, 2012 | Brendan Sasso
    Wireless startup LightSquared might try to swap airwave licenses with similar ones operated by the Defense Department in a last-ditch attempt to save its nationwide network, The Wall Street Journal reports, citing sources familiar with the company's plans.The Federal Communications Commission (FCC) moved to block LightSquared's plans earlier this week after testing showed its network would interfere with millions of GPS devices....The company has until mid-March to receive regulatory approval or its risks losing a multibillion-dollar contract with Sprint.
  • FCC moves to suspend LightSquared network

    02/16/2012 12:16:57 PM PST · by sloop · 11 replies
    AOPA ^ | February 15, 2012 | Dan Namowitz
    The Federal Communications Commission (FCC), acting on a technical committee’s recommendation, will move to suspend LightSquared’s bid to develop a mobile satellite network that has been proven to interfere with GPS reception. ... On Feb. 14, the FCC issued a statement announcing that it had accepted recommendations of the National Telecommunications and Information Administration (NTIA) technical panel that studied the problem and found no practical solutions to GPS interference. That opinion, rendered unanimously in a Jan. 13 letter, concluded that no fix was possible for months—or perhaps years—that would permit the network to operate “without significantly interfering with GPS.”
  • LightSquared vows to fight FCC's decision

    02/15/2012 4:11:26 PM PST · by jazusamo · 7 replies
    The Hill ^ | February 15, 2012 | Brendan Sasso
    Wireless start-up LightSquared plans to fight the Federal Communications Commission's (FCC) move to reject its proposed nationwide 4G network, a company official told The Hill. Jeff Carlisle, LightSquared's vice president for regulatory affairs, said the company will file a formal comment with the FCC urging the agency not to follow through on its proposal to "indefinitely suspend" LightSquared's authority to operate cell towers. The FCC announced the decision Tuesday night after the president's top adviser on telecom issues concluded there is "no practical way" to prevent LightSquared's network from disrupting GPS devices, including those used in flight safety. When...
  • LightSquared Fiasco Puts Harsh Spotlight on FCC's Genachowski

    02/15/2012 9:49:46 AM PST · by jazusamo · 24 replies
    National Legal & Policy Center ^ | February 15, 2012 | Peter Flaherty
    In a major victory for the National Legal and Policy Center, the Federal Communications Commission (FCC) yesterday reversed itself and revoked a controversial waiver it had granted LightSquared, which would have allowed the company to deploy a national wireless network. The reversal is not only a major setback for LightSquared's billionaire owner Phil Falcone, but puts a harsh spotlight on the role of FCC Chairman Julius Genachowski. According to Cecelia Kang of the Washington Post Tech blog : The FCC's decision is expected to all but end LightSquared's aspirations to provide mobile broadband services via satellite airwaves -- a...
  • Lights out for LightSquared (FCC Finally Pulls Plug. Another Obama Crony Bites the Dust)

    02/15/2012 7:26:14 AM PST · by SeekAndFind · 24 replies
    Hotair ^ | 02/15/2012 | Ed Morrissey
    National Journal calls it "a colossal fall from grace", but it comes only as a political surprise that the FCC acted yesterday to kill off the LightSquared proposal. After an extraordinary one-year grace period to resolve the interference issues of its network with existing GPS systems, the FCC reluctantly admitted that “no practical way” to fix the basic problem of high-powered terrestrial broadcasts on a spectrum slice intended for low-power satellite communications (via Instapundit): The Federal Communications Commission (FCC) moved to reject LightSquared’s planned wireless network on Tuesday after the president’s top adviser on telecom issues said there is “no...
  • FCC Bars LightSquared Broadband Network Plan

    02/15/2012 5:51:02 AM PST · by lump in the melting pot · 32 replies
    Frequent Business Traveler ^ | February 14, 2012 | Paul Riegler
    The Federal Communications Commission announced it had revoked its conditional approval for the controversial LightSquared national broadband network. The proposed network was to use airwaves once reserved for satellite-telephone transmissions and had been given a conditional approval by the FCC last year. The FCC’s move follows a statement by the National Telecommunications and Information Administration, which held that “there is no practical way to mitigate the potential interference [with GPS] at this time.” LightSquared’s plans have been strongly opposed by users of GPS systems, which include the military and the aviation industry. The NTIA tests demonstrated that the company’s network,...
  • Individual claiming connection to LightSquared makes 'questionable' contact to Grassley

    01/23/2012 1:40:12 PM PST · by BAW · 20 replies
    Agri-Pulse.com ^ | Jan 23, 2012
    Sen. Chuck Grassley (R-Iowa) today asked the principal behind the LightSquared 4G wireless project to explain a questionable contact to Grassley’s office that intimated benefits for Grassley if he softened his inquiry of government approval of the project. Since last April, Grassley has been reviewing the Federal Communications Commission’s approval of the LightSquared project and the concerns of interference with the Global Positioning System. According to a press release issued from Grassley’s office today, the Senator wrote to Philip Falcone of Harbinger Capital Partners, expressing concern that two separate incidents implied a desire to have Grassley “pull punches” in his...
  • Advisory Board: LightSquared, GPS Can't Coexist; News Stories Avoid Obama and Dem Campaign $

    01/16/2012 11:16:04 AM PST · by opentalk · 9 replies
    NewsBusters ^ | January 15, 2012 | Tom Blumer
    On Friday, two Deputy Secretaries, one at the Department of Transportation and the other at Defense, in their capacities as co-chairs of the National Space-Based Positioning, Navigation and Timing (PNT) Executive Committee, released a one page letter concluding that the modified broadband deployment plan of LightSquared could not coexist with current GPS devices and their spectrum. That's because: a) LightSquared's deployment "would cause harmful interference to many GPS receivers"; b) It would not be "compatible with several GPS-dependent aircraft safety-of-flight systems," and c)"there appear to be no practical solutions" to the problems. Stories about the release, to the extent they...
  • Officials: 'No Practical Solutions' for LightSquared GPS Problem

    01/16/2012 10:26:46 AM PST · by bigbob · 13 replies · 1+ views
    Wireless Week ^ | 1-16-12 | Maisie Ramsay
    Top government officials said Friday that there are "no practical solutions" to GPS interference problems caused by LightSquared's planned mobile broadband network, signaling that the venture-backed company may have to abandon its plans to deploy LTE service in spectrum near to GPS bands. "There appear to be no practical solutions or mitigations that would permit the LightSquared broadband service, as proposed, to operate in the next few months or year without significantly interfering with GPS," Defense Department Deputy Secretary Ashton Carter and Transportation Department Deputy Secretary John Porcari said in a letter to NTIA Administrator Lawrence Strickling. "As a result,...
  • Exclusive: Falcone's wireless company running out of cash (OBAMA crony capitalist alert)

    12/19/2011 4:04:26 PM PST · by milwguy · 8 replies
    al reuters ^ | 12/19/2011 | Matthew Goldstein
    The upstart wireless company that is being bankrolled by Philip Falcone's $5 billion Harbinger Capital Partners hedge fund could run out of money during the second quarter of 2012, according to the company's financial statement. LightSquared, which registered a $427 million net loss during the first nine months of this year, may not be able to "continue as a going concern" unless it can raise additional capital and financing, the statement reviewed by Reuters said. "There is a need to raise substantial capital beyond the beginning of the second quarter of 2012 in order to have sufficient liquidity," the company's...
  • LightSquared Slams Leak on GPS Tests, Expects to Win(Barry's Cronies Company)

    12/13/2011 7:38:50 AM PST · by milwguy · 13 replies
    pc world ^ | 12/12/2011 | Stephen Lawson
    LightSquared believes a government official selectively leaked results from tests of its proposed mobile broadband network to set public opinion against the company, and it is seeking a federal investigation of the apparent leak. But executives of the fledgling carrier, which plans to build a national LTE (Long Term Evolution) network in spectrum near GPS frequencies, said they are still confident of getting government approval in time to launch the network next year. "The tide is on our side completely in terms of getting through this process," LightSquared General Counsel Curtis Lu said on a conference call with reporters on...
  • LightSquared disrupts 75% of GPS receivers in gov’t testing

    12/10/2011 6:43:10 AM PST · by Hojczyk · 44 replies
    Hot Air ^ | December 10,2011 | ED MORRISSEY
    Philip Falcone’s proposed LightSquared Inc. wireless service caused interference to 75 percent of global-positioning system receivers examined in a U.S. government test, according to a draft summary of results. The results from testing conducted Oct. 31 to Nov. 4 show that “millions of fielded GPS units are not compatible” with the planned nationwide wholesale service, according to the draft seen by Bloomberg News. “LightSquared signals caused harmful interference to majority of GPS receivers tested,” according to the draft prepared for a meeting next week of U.S. officials reviewing the LightSquared proposal. “No additional testing is required to confirm harmful interference...
  • SEC Cracking Down on LightSquared's Falcone?

    12/10/2011 10:47:05 AM PST · by jazusamo · 10 replies
    National Legal & Policy Center ^ | December 10, 2011 | Peter Flaherty
    Billionaire Phil Falcone, whose cozy relationship with the Obama Administration was first exposed by NLPC, may face civil fraud charges by the Securities and Exchange Commission (SEC). According to a filing yesterday by Harbinger Group Inc., Falcone and two other directors have received "Wells Notices," meaning that they are under investigation. Falcone is the Chairman, CEO and primary investor in Harbinger Group Inc., a hedge fund. Reportedly, other Harbinger investors include Soros Fund Management. Harbinger owns LightSquared, which has received an unusual waiver from the Federal Communications Commission (FCC) to deploy a national 4G wireless network. Media reports have...
  • Grassley: FCC Stonewalling on LightSquared Scandal Documents

    11/10/2011 9:52:24 AM PST · by jazusamo · 4 replies
    National Legal & Policy Center ^ | November 10, 2011 | NLPC Staff
    Has Julius Genachowski, the Chairman of the Federal Communications Commission (FCC), met his match in Senator Charles Grassley (R-Iowa)? Genachowski, a buddy of President Obama from Harvard Law School, has brought a culture of wheeling and dealing to the FCC, on whose decisions billions of telecom dollars often ride. Grassley says that he will hold up two nominations for the Federal Communications Commission (FCC) until the Commission provides documents that he has requested relating to LightSquared, a broadband company owned by the Harbinger Capital hedge fund. LightSquared is at the center of a scandal involving accusations made first by...
  • Grassley to White House: Cough up LightSquared docs or I’ll block FCC nominees

    11/07/2011 9:19:14 AM PST · by Nachum · 12 replies
    Michelle Malkin ^ | 11/7/11 | Michelle Malkin
    GOP watchdogs on Capitol Hill continue to chip away at White House stonewalls. When last we visited the LightSquared scandal, one of the shady company’s partners was going under here in Colorado despite a $267 million fed loan and officials at the National Telecommunications and Information Administration were playing disclosure-ducking games. The FCC is engaging in hide-the-docs, too. Sen. Charles Grassley has vowed to block Obama’s FCC nominees until the panel coughs up requested info: The controversy over satellite-LTE carrier LightSquared could prevent the U.S. Federal Communications Commission from filling two vacant seats if a U.S. senator follows through on...
  • Exposed! Obama's Secret Life

    11/03/2011 9:42:36 PM PDT · by Free ThinkerNY · 54 replies
    nationalenquirer.com ^ | Nov. 3, 2011 | NATIONAL ENQUIRER staff
    President OBAMA’s shadowy past could doom his future, The ENQUIRER has learned. A blockbuster new book rips the lid off President Barack Obama’s darkest se­crets – and could doom his bid to win a second term in the White House! The explosive tell-all by take-no-prisoners blogger Mondo Frazier reveals the command­er in chief is a “chain-smok­ing wreck” who could be hooked on prescrip­tion drugs, and claims he may have spied for the CIA in col­lege. “I’ve uncovered that Presi­dent Obama has spent over $2 million in legal fees to keep the details of his past hidden,” Frazier told The ENQUIRER....
  • Obama: Country Facing Economic, Political Crisis "This election won't be as sexy as the first one"

    10/24/2011 7:45:29 PM PDT · by kristinn · 68 replies
    AP ^ | Monday, October 25, 2011 | Jim Kuhnhenn
    Testing a re-election theme, President Barack Obama is telling donors during a fundraising rich tour of three western states that the country is suffering from an economic crisis and from a political crisis. "People are crying out for action," he says. Pointing to elements of his $447 billion jobs plan rejected by Republican lawmakers, Obama said they would likely linger as campaign issues in 2012. "This is the fight that we're going to have right now, and I suspect this is the fight that we're going to have to have over the next year," Obama told about 240 donors at...
  • Advanced Technology?

    10/15/2011 6:39:52 AM PDT · by Wavesport · 7 replies
    The Daily Caller ^ | Chris Bedford
    Meet the Roberts electric car. Built in 1896, it gets a solid 40 miles to the charge — exactly the mileage Chevrolet advertises for the Volt, the highly touted $31,645 electric car General Motors CEO Dan Akerson called “not a step forward, but a leap forward.” Read more: http://dailycaller.com/2011/10/14/114-year-old-electric-car-gets-same-40-miles-to-the-charge-as-chevy-volt/#ixzz1aqdfxrZJ
  • LightSquared: GPS industry has campaign to discredit company

    10/12/2011 3:14:44 PM PDT · by jazusamo · 40 replies
    The Hill ^ | October 12, 2011 | Brendan Sasso
    Jeff Carlisle, LightSquared's vice president of regulatory affairs and public policy, accused the Global Positioning System (GPS) industry of trying to manufacture a political scandal to discredit his wireless company on Wednesday. "[GPS companies] have completely mischaracterized the political donations [LightSquared investor] Phil Falcone and our CEO [Sanjiv Ahuja] have made," Carlisle said after a House Small Business Committee hearing. When asked whether he believes the GPS industry has pushed negative political stories about LightSquared, Carlisle said, "There's no doubt in my mind. Of course they have. It's not like this stuff just shows up for no reason whatsoever." Republican...
  • The homes Kamp Alinsky Kids won’t protest -Soros,Immelt,Krugman,Bloomberg,Falcone,Kaiser..

    10/11/2011 9:20:40 AM PDT · by opentalk · 14 replies
    Michelle Malkin ^ | October 11, 2011 | Michelle Malkin
    You knew it was coming. The Kamp Alinsky Kids are taking a sight-seeing tour today. After a month of trashing Zuccotti Park at a public cost of $2 million per day, the riff-raff is marching uptown to occupy…wealthy people’s private homes. According to the NY Daily News: “A ‘Millionaires March’ will visit the homes – or, more realistically, the gleaming marble lobbies – of five of the city’s wealthiest residents, including News Corp. CEO Rupert Murdoch, JPMorgan Chase CEO Jamie Dimon and conservative billionaire David Koch.” Some millionaires and billionaires and their homes get protected, of course. Billionaire NYC Mayor...
  • Grassley Asks for FCC Records, White House Contacts (Obama tied to LightSquared scandal)

    10/07/2011 11:54:16 AM PDT · by pabianice · 18 replies
    Bloomberg/AOPA | 10/7/11 | Engleman
    Link Only.
  • Government "Venture Capital" vs. Private Venture Capital

    10/01/2011 11:44:27 AM PDT · by moneyrunner · 14 replies
    The Virginian ^ | 10/1/2011 | Moneyrunner
    Megan McArdle writes in the Atlantic about the difference between government venture capital and private venture capital. By far the biggest difference is not even mentioned. There is a dramatic and critical difference between government loan guarantees and private venture capital (PVC). The PVC investor expects to make a bundle from his investment, typically by getting an equity stake and cashing out when the successful firm goes public. That’s the best case scenario for PVC. If the company fails, they’re out their seed capital. When the government gets into the venture capital business, risking your money and mine, what’s the...
  • Big Time Scandals by Obama Administration Too Small for Investigation by Mainstream Media?

    10/01/2011 9:37:34 AM PDT · by opentalk · 15 replies
    Canada Freepress ^ | October 1, 2011 | Jerry McConnell
    Since Obama’s inauguration in January 2009 there have been several major scandals in which his Administration has been involved, principally, Operation Fast and Furious the government sponsored sale of guns to small time gun sellers along our border with Mexico; the failed ‘Stimulus’ loan of multi-millions to Solyndra and LightSquared, two small businesses that were Obama preferred for loans. All three of these Obama Administration ventures were major failures involving scandalous behavior. ...Is the entire communications arm of our country becoming beholden to Obama and his scandal ridden administration peopled by socialist, communists who break our laws with impunity and...
  • Good Money After Bad

    09/30/2011 8:35:26 AM PDT · by afraidfortherepublic · 7 replies
    Powerline ^ | 9-30-11 | John Hinderaker
    The Washington Post reported yesterday that Secretary of Energy Steven Chu gave Solyndra more taxpayer money even after Solyndra was in default on the government’s $535 million loan guarantee: Energy Secretary Steven Chu acknowledged Thursday making the final decision to allow a struggling solar company to continue receiving taxpayer money after it had technically defaulted on a $535 million federal loan guaranteed by his agency. Chu spokesman Damien La­Vera said in a statement that the secretary approved the restructuring agreement for Solyndra because it gave the company “the best possible chance to succeed in a very competitive marketplace and put...
  • SOLARGATE: FBI Is Investigating Solyndra For Fraud

    09/29/2011 2:19:56 PM PDT · by sunmars · 38 replies
    Bloomberg reports that the FBI is investigating Solyndra for accounting fraud, according to a source close to the solar panel company. The report confirms assumptions that the Department of Justice has been looking into whether Solyndra misrepresented the company's financial situation in order to obtain — and then refinance — a $534 million loan from the federal government. We've previously written that Solyndra executives assured the administration that the company's future was bright, even as the company's internal audits showed its finances deteriorating. The company declared bankruptcy earlier this month, prompting the FBI probe, as well as two Congressional investigations.
  • LightSquared doubles size of its lobbying team in 2011 (already spent $830,000 in first 6 months)

    09/27/2011 9:21:31 AM PDT · by Libloather · 5 replies
    The Hill ^ | 9/27/11 | Rachel Leven and Kevin Bogardus
    LightSquared doubles size of its lobbying team in 2011By Rachel Leven and Kevin Bogardus 09/27/11 06:00 AM ET LightSquared, the wireless telecom firm facing Republican complaints that it has benefited from political ties to the White House, has significantly boosted its lobbying this year. The company has more than doubled the number of lobbying firms on its payroll, from four to nine K Street shops, in the first half of 2011. LightSquared has already spent $830,000 on lobbying in the first six months of year, and is on pace to more than double its K Street expenditures of $695,000 in...
  • Soros Surfaces on the Edge of White House Controversy Involving LightSquared

    Billionaire financier and liberal activist George Soros has been financially linked to LightSquared, which is at the center of allegations that the White House pressured a Pentagon commander to change his prepared congressional testimony to benefit the Virginia-based telecom company that once received a $90,000 investment from President Obama. LightSquared is seeking to establish a new wireless broadband network that many, including Air Force Gen. William Shelton, believe could interfere with critical GPS systems used by the U.S. military. But Shelton, head of Space Command, confided to lawmakers that he thought his testimony had been leaked to LightSquared, and that...
  • The Administration's Tangled Web

    09/20/2011 4:28:33 PM PDT · by Kaslin · 8 replies
    IBD Editorials ^ | September 20, 2011 | Staff
    Scandals: A gun dealer's tape shows a possible coverup of a third gun found at the scene of a murdered border patrol agent. Meanwhile, a second congressional witness reports coaching of testimony on a donor's project. That giant sucking sound you hear is the Obama administration imploding under the weight of incompetent policies based on long-discredited progressive ideology and now a wave of scandals that involve gun-running, witness-tampering and political payoffs — and cover-ups of all of the above. The infamous Watergate tape may have its rival in tapes obtained by CBS News between an agent for the Bureau of...
  • Soros Turns up in Obama's LightSquared Imbroglio

    09/21/2011 4:19:17 PM PDT · by lbryce · 10 replies
    Washington Examiner ^ | September 20, 2011 | Timothy P. Carney
    As Republican lawmakers begin to dig into the White House's cozy relationship with a startup wireless company and the wealthy Democratic donor who owns it, a new character has appeared on the story's edges: liberal superdonor, conservative bete noire and controversial investor George Soros. Soros reportedly invested in the telecom company LightSquared through a hedge fund, and many of the nonprofits he finances have backed LightSquared in regulatory and policy disputes. The background: LightSquared wants to compete with AT&T, Verizon and Sprint to provide mobile broadband (for instance, email and Internet on your Blackberry or iPhone). Harbinger Capital Partners, a...
  • Victor Davis Hanson: Obama’s Predictable Scandals - The media can no longer shield Obama from...

    09/21/2011 2:25:07 PM PDT · by neverdem · 41 replies
    NATIONAL REVIEW ONLINE ^ | September 21, 2011 | Victor Davis Hanson
    Obama's Predictable ScandalsThe media can no longer shield Obama from scrutiny. The media finally conceded the Obama administration to be inexperienced and inept, reminiscent of the Carter administration — but, they maintained, not possibly involved in any corruption. Then suddenly scandals erupted on nearly every conceivable front: the crony-capitalist half-billion-dollar loan guarantee to a now bankrupt Solyndra; the Fast and Furious gun deal, in which, in lunatic fashion, the U.S. government sold deadly automatic weapons to Mexican drug-cartel killers; the administration’s pressure on a four-star general to fudge his testimony as a favor to a big campaign donor whose suspect...
  • LightSquared: Obama’s Dangerous Broadband Boondoggle (Another Example of Corrupt Crony Capitalism)

    09/21/2011 12:43:11 PM PDT · by SeekAndFind · 7 replies
    National Review ^ | 09/21/2011 | Michele Malkin
    If you thought the half-billion-dollar, stimulus-funded Solyndra bust was a taxpayer nightmare, just wait. If you thought the botched Fast and Furious gun-smuggling surveillance operation was a national-security nightmare, hold on. Right on the heels of those two blood-boilers comes yet another alleged pay-for-play racket from the most ethical administration ever. Welcome to LightSquared. It’s a toxic mix of venture socialism (to borrow GOP senator Jim DeMint’s apt phrase), campaign-finance influence-peddling, and perilous corner-cutting all rolled into one. The company is building “a state-of-the-art open wireless broadband network.” Competition in the industry is a good thing, of course. But military,...
  • Law firms representing Solyndra executives are major Democratic donors

    09/21/2011 10:01:02 AM PDT · by sunmars · 18 replies
    The law firms representing two prominent Solyndra executives are major Democratic Party donors, The Daily Caller has learned. Reuters first reported that the bankrupt company’s CEO, Brian Harrison, and CFO, W.G. Stover, plan to refuse to talk openly to congressional investigators about how their company squandered $535 million in taxpayer money. They will invoke their Fifth Amendment right not to self-incriminate themselves at a House Energy and Commerce Committee hearing on Friday. The law firms representing the executives are Orrick, Harrington and Sutcliffe, and Keker and Van Nest. Both are major contributors to Democrats and both have handsomely helped President...
  • LightSquared claims to have solution for GPS interference problems

    09/21/2011 11:23:41 AM PDT · by jazusamo · 33 replies
    The Hill ^ | September 21, 2011 | Brendan Sasso
    Wireless startup LightSquared claimed Wednesday to have found a solution that will prevent its network from interfering with Global Positioning System (GPS) devices, even especially sensitive precision devices. The company said it worked with Javad, a GPS manufacturer, to develop a system that will adapt precision GPS devices so they can operate in the presence of LightSquared's network. Martin Harriman, LightSquared's executive vice president of ecosystem development and satellite business, said the fix is affordable and "relatively simple. The company plans to test a batch of prototypes alongside additional tests required by the Federal Communications Commission. LightSquared intends to...
  • LightSquared: Obama's Dangerous Broadband Boondoggle

    09/20/2011 11:09:58 PM PDT · by opentalk · 17 replies
    Townhall ^ | September 21, 2011 | Michelle Malkin
    If you thought the half-billion-dollar, stimulus-funded Solyndra solar company bust was a taxpayer nightmare, just wait. If you thought the botched Fast and Furious border gun-smuggling surveillance operation was a national security nightmare, hold on. Right on the heels of those two blood-boilers comes yet another alleged pay-for-play racket from the most ethical administration ever. Welcome to LightSquared. It's a toxic mix of venture socialism (to borrow GOP Sen. Jim DeMint's apt phrase), campaign finance influence-peddling and perilous corner-cutting all rolled into one. The company is building "a state-of-the-art open wireless broadband network." Competition in the industry is a good...
  • Why LightSquared is more than cronyism … It’s about safety

    09/20/2011 11:35:18 AM PDT · by Corky Boyd · 7 replies
    Island Turtle ^ | September 20, 2011 | Corky Boyd
    The recent revelations by Eli Lake at The Daily Beast that a four-star Air Force general was pressured to alter his testimony to favor Light Squared revealed a new case of cronyism in the White House. Now a second individual has now come forward to say he too was urged to parrot OMB suggested text in his testimony - that the OMB wants expedited testing for frequency interference. He refused to do so. From The Daily Beast: "The four-star Air Force general who oversees Air Force Space Command walked into a highly secured room on Capitol Hill a week ago...
  • Issa to launch probe of Obama actions on Solyndra, LightSquared

    09/20/2011 10:15:24 AM PDT · by NMEwithin · 19 replies
    The Hill ^ | 9/20/2011 | Justin Sink
    Rep. Darrell Issa (R-Calif.) said Tuesday that his committee plans to investigate government loan programs to private corporations in light of allegations of improper dealings between the White House and failed energy company Solyndra and wireless start-up LightSquared. "I want to see when the president and his cronies are picking winners and losers… it wasn't because there were large contributions given to them," the chairman of the Oversight and Government Reform Committee said Tuesday morning on C-SPAN. Issa said the committee was looking at whether it was improper for members of Congress or White House staff to select companies eligible...
  • Issa to launch probe of Obama actions on Solyndra, LightSquared

    09/20/2011 7:57:03 AM PDT · by maggief · 33 replies
    The Hill ^ | September 20, 2011 | Justin Sink
    Rep. Darrell Issa (R-Calif.) said Tuesday that his committee plans to investigate government loan programs to private corporations in light of allegations of improper dealings between the White House and failed energy company Solyndra and wireless startup LightSquared. "I want to see when the president and his cronies are picking winners and losers… it wasn't because there were large contributions given to them," the chairman of the Oversight and Government Reform Committee said Tuesday morning on CSPAN. Issa said the committee was looking at whether it was improper for members of Congress or White House staff to select companies eligible...